IMF predicts higher global growth, but warns of risks

Credit: Reuters/Francois Lenoir

International Monetary Fund (IMF) Managing Director Christine Lagarde arrives for a debate of the European Economic and Social Committee at the EU Parliament in Brussels December 10, 2013.

IMF Managing Director Christine Lagarde also warned about the 'rising risks' of deflation, as price growth remains below the target of many central banks.

'We see rising risks of deflation, which could prove disastrous for the recovery,' Lagarde said at the National Press Club in Washington, according to prepared remarks. 'If inflation is the genie, then deflation is the ogre that must be fought decisively.'

Lagarde also warned about the volatility that could accompany the U.S. Federal Reserve's gradual withdrawal of monetary stimulus.

'Overall, the direction is positive, but global growth is still too low, too fragile, and too uneven,' she said.

(Reporting by Anna Yukhananov; Editing by Paul Simao)

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